Members of the ANZ rewards are currently not able to transfer their reward points to Velocity Frequent Flyer program, though ANZ has promised that users will be allowed to do so “in the not-too-distant future”.
This was after the company and other major banks in Australia postponed point transfer to Velocity Frequent Flyer from its reward card when Velocity’s parent company Virgin Australia entered administration in 2020.
But at the time, Velocity had already pressed pause on all its redemptions of reward points after it entered administration.
As the company slowly brought back nearly all of its redemption options and most of the credit card reward programs in Australia resumed enabling users to transfer points to Velocity Frequent Flyer.
However, ANZ Rewards is yet to lift the ban on the transfer of points to Frequent Flyer.
Normally, you would convert your ANZ Rewards points at a 2:1 rate to Velocity points, with a cap minimum of 2,000 ANZ points per transfer.
Note that cardholders cannot cancel their credit card during this pause before transferring the ANZ points because then the points will go with the canceled account/card after a while.
So if you are planning on canceling your card, ensure you transfer all your points before canceling.
But as you wait for ANZ to resume its point transfer to Velocity Frequent Flyer.
Recommended guide: How To Redeem Rewards Points.
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How to transfer ANZ Rewards points to Velocity
Here are the steps you will follow to transfer your ANZ Rewards points to Velocity:
Step one: Visit ANZ Business Rewards or ANZ Rewards.
Step two: Choose transfer now and then select log in Shop if you are an ANZ Business Rewards member.
After that, select Redeem to redeem your points.
Step three: Next, enter the number of ANZ points you want to convert to Velocity and click update and continue.
Step four:
- Enter your Velocity member number.
- Crosscheck your details to make sure everything is perfect.
- Finally, click Submit.
From there, a redemption log number prompt will appear on your screen as well as email notification will be sent to your inbox for reference.
Note that you can transfer a minimum of 2,000 ANZ points per transfer, which is equal to 2,000 ANZ points for 1,000 Velocity Points at the ratio of 2 ANZ points for 1 Velocity point.
Once you have completed this process, wait for up to five business days for the Velocity points to reflect in your account.
Remember that you must actually be a member of the Velocity Program to be able to transfer ANZ Rewards Points to Velocity.
Also, bear in mind that point redemption is strictly subjected to the Member Terms and Conditions, which you should always read before you transact.
Another important point to note is that you can configure auto-redemption to take care of your points transfer or make just a one-off points transfer.
With auto-redemption, you are not bound by the minimum 2,000 ANZ Rewards point per transfer rules.
See also: Credit Score Needed For Suncoast Credit Union.
Important things you need to keep in mind before transferring ANZ Rewards points to Velocity
Here are some of the essential things to note when you transfer ANZ Rewards points to Velocity:
Must be a member of Velocity
Before transferring your ANZ rewards to Velocity, you must have an active membership with the Velocity Frequent Flyer program.
Though you can still transfer points from other cards, you must make sure that the Velocity membership information matches the details of the card account holder.
Transfer time
Usually, your ANZ points should transfer to Velocity within 2 to 5 business days. So make sure you are aware of this in case you want to make short-term plans.
Transfer bonuses
You might earn some transfer bonuses when you move your ANZ Rewards points to Velocity Frequent Flyer program, depending on the type of promotion.
Check our latest ANZ articles here:
ANZ New Zealand Internet Banking, Login To ANZ Account, Australia Online Banking, Cancel Rewards, Earn Rewards Points, What Are Rewards Points Worth.
